The global Natural Learning Process (NLP) in the education market is expected to grow at a CAGR of 22.8% during the forecasted period 2023-2030. The market growth is driven due to factors such as affordability, scalability in computing power, a rise in data digitalization, and the convergence of NLP with deep learning (DL) and machine learning (ML). Other factors such as increasing usage of natural language processing in healthcare and contact centers, the rising demand for advanced text analytics, and the expansion of machine-to-machine technologies in the education sector are also contributing to the market growth.
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- Different market players are working on innovation and innovative solutions around NLP in education are driving the market growth. These market players are launching new products and services to support and strengthen the education sector. For instance, in November 2023, MedCerts launched its first Conversational AI /Generative AI healthcare training programs available on the market. MedCerts combines Conversational AI, Generative AI, and Natural Language Processing for a Revolutionary New AI Addition to Online Healthcare Training. MedCerts makes every interaction unique for learners to experience critical healthcare training scenarios
- Key market players and brands are investing heavily to strengthen cybersecurity in education by providing different services. It has become essential to protect the education sector from different kinds of cyber threats such as ransom attacks, and more by incorporating NLP in the education sector. For instance, in May 2023, IBM announced it would provide in-kind grants valued at $5.0 million to help address cybersecurity resiliency in schools, in response to the growing threat of ransomware attacks against schools around the world.
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- Global players are collaborating with education institutes to bring innovation through technology for research and development work. NLP plays a very essential role in that and such collaborations are driving the market growth. For instance, in March 2023, Amazon and the IIT Bombay announced the creation of the Amazon IIT–Bombay AI-ML initiative. It is a multiyear collaboration that will fund research projects, PhD fellowships, and community events, such as research symposia. It will advance artificial intelligence (AI) and machine learning (ML) within the speech, language, and multimodal-AI domains.
The major companies serving the global natural language processing (NLP) market include IBM Corporation, Microsoft Corp., Google, Amazon Web Services, Inc., Meta Platforms, Inc., Baidu, Inc., SAS Institute Inc., IQVIA Inc., and Others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2023, SAP SE announced it had joined the Stanford University Human-Centered Intelligence HAI Corporate Affiliate Program. SAP will be supporting Stanford HAI’s research, policy, and education efforts to help responsibly build and implement artificial intelligence (AI) using NLP.
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